Do You Want A solution From A Sell My House Quick Company?
Panic in the house market with the latest figure showing house prices are down 17.6%. However history tells a different story and says no need to panic it is a curve in the charts that will reverse.
House prices in the UK have had some downturns over the years. For example between 1952 and 1953 there was a fall of 1%, again in the 90s we had a big fall, where the average house price went from £59,587 to £51,050 a 16.72% fall between the first quarter of 1990 and the third quarter of 1993. Again in the second quarter of 1994 a 1.1% fall was registered along with some others. But what does history tell us?
The biggest upturn was in the period from 1972 to 1982 where the increase reached the amazing figure of 224.60%. In the last recession – 1990-92 – house prices went down 16.72% as mentioned above. However, if we look at the figures between that recession and now we will see an increase of 147.95% in houses prices. The average price in 1990 was 59,587 and now is £147,746.
The 1980-82 recession didn’t affect the property market and it even showed an increase of 12.80% in house prices in this period. From an average price of £22,667 in the first quarter of 1980 to £25,580 in the fourth quarter of 1982. Again in 1973-75 the house market was untouched registering an increase of 33.73% in house prices.
An indicator that the house prices are going to increase again is the fact that the construction industry has had a big slowdown. The demand for houses in a few years time will be more than those on offer causing prices to go through the roof again. So if you are entering into a sell my house quick scheme plus buy back option make sure you pre-agree the purchase price to make it work smoothly for you.
What is a recession by the way? Everybody is talking about recession now but do we really know what it means? The only thing known for sure is the painful feeling in our pockets. Recession is a decrease in a country’s gross domestic product (GDP), which is a measurement of the country’s national income and output – a measure of all the country’s services and goods. It is used as a thermometer to check the economic health of a country. The calculation of the GDP is a quite complex but the basically the economists either add up all the income of the whole population or alternatively the total expenditure. The expenditure method is the more commonly used and includes investments, private and government expenditures, net exports and total consumption. Every 3 months the GDP is calculated and if declining for two consecutive quarters it is officially a recession. When the GDP drops by 10% or a recession lasts for more than 3 years it is officially a depression. In 1919-21 it lasted 3 years and had a GDP down by 10.9% and was similarly followed by the Great Depression of 1930-31.
We are coming off a 10 year boom especially orchestrated by an irresponsible financial bonanza which has brought Britain into a recession that families will pay for with their homes through repossession and near poverty through the astronomical unemployment rates. To secure homes in these trying times it is wise to seriously consider the sell my house quick scheme (if you really need to sell) plus buy back scheme. Let’s hope that this recession doesn’t last long and that the collateral effects won’t wipe out the gains made during the last ten years.